Cross Timbers Royalty Trust (NYSE:CRT) Major Shareholder Eric Oliver Purchases 12,851 Shares

Cross Timbers Royalty Trust (NYSE:CRT) major shareholder Eric Oliver purchased 12,851 shares of Cross Timbers Royalty Trust stock in a transaction dated Wednesday, April 1st. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $134,935.50. Following the transaction, the insider owned 710,744 shares in the company, valued at approximately $7,462,812. This trade represents a 1.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Cross Timbers Royalty Trust Price Performance

CRT traded up $0.16 during trading hours on Thursday, reaching $10.75. The company’s stock had a trading volume of 30,062 shares, compared to its average volume of 41,641. The stock has a market cap of $64.47 million, a PE ratio of 14.14 and a beta of 0.03. Cross Timbers Royalty Trust has a fifty-two week low of $7.07 and a fifty-two week high of $12.15. The business’s 50-day moving average is $9.20 and its 200-day moving average is $8.40.

Cross Timbers Royalty Trust (NYSE:CRT) last posted its earnings results on Friday, March 27th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter. Cross Timbers Royalty Trust had a return on equity of 198.98% and a net margin of 77.77%.The company had revenue of $1.64 million during the quarter.

Cross Timbers Royalty Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 31st will be given a dividend of $0.0009 per share. This represents a c) dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Cross Timbers Royalty Trust’s dividend payout ratio (DPR) is presently 78.95%.

Hedge Funds Weigh In On Cross Timbers Royalty Trust

A number of hedge funds have recently made changes to their positions in CRT. Bank of America Corp DE increased its holdings in Cross Timbers Royalty Trust by 81.3% in the 2nd quarter. Bank of America Corp DE now owns 3,596 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,612 shares during the last quarter. Scotia Capital Inc. purchased a new stake in Cross Timbers Royalty Trust in the second quarter valued at approximately $109,000. O Shaughnessy Asset Management LLC lifted its stake in Cross Timbers Royalty Trust by 23.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,030 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 2,651 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Cross Timbers Royalty Trust during the third quarter worth $212,000. Hedge funds and other institutional investors own 9.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cross Timbers Royalty Trust in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Cross Timbers Royalty Trust currently has a consensus rating of “Sell”.

Cross Timbers Royalty Trust Company Profile

Cross Timbers Royalty Trust (NYSE:CRT) is a Delaware statutory trust that holds royalty interests in a portfolio of onshore oil and natural gas properties. The trust was established in June 2005 through a contribution of assets by Chesapeake Energy Corporation. It earns revenue by collecting overriding royalty and net profit interests carved out of producing leases and then distributing those receipts to its unitholders on a quarterly basis.

The underlying assets of the trust consist primarily of oil, natural gas and natural gas liquids reserves located in several Texas counties, including Erath, Stephens, Comanche and Palo Pinto.